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Northern preparation

18 May 2016, USD/JPY

Daily chart: ADX has showed first signs of activity, but has not reached the trendline area yet. Therefore, we, on the one hand, we expect continuation of flat at the middle Bollinger band (108.98), but on the other hand, bulls may start attacking the upper band (111.97).

Н4: the flat remains inside Bollinger envelopes (108.56-109.37).

Н1: a wider corridor108.72-109.59

Expectations: Now we expect flat with a possible bullish momentum inside the corridor 108.72-109.59

Trading solutions: possible purchases to 109.52 and sales from 109.52. But at the same time sales need to be careful. It is better not to be greedy, because northern accumulation is going on.

Aleksey Panasenko
Analyst of «FreshForex» company
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